Harbor Advisory Corp MA raised its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,440 shares of the iPhone maker’s stock after buying an additional 3,411 shares during the quarter. Apple accounts for about 4.2% of Harbor Advisory Corp MA’s portfolio, making the stock its 3rd largest position. Harbor Advisory Corp MA’s holdings in Apple were worth $9,494,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in the stock. CFS Investment Advisory Services LLC increased its holdings in shares of Apple by 18,263.5% in the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after acquiring an additional 7,416,445 shares in the last quarter. Spence Asset Management bought a new position in shares of Apple during the second quarter worth about $49,000. HBC Financial Services PLLC grew its holdings in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares in the last quarter. Emerson Wealth LLC grew its holdings in shares of Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after buying an additional 320 shares in the last quarter. Finally, Econ Financial Services Corp grew its holdings in shares of Apple by 29.1% during the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.
Insiders Place Their Bets
In other Apple news, SVP Deirdre O’brien sold 176,299 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the transaction, the senior vice president now owns 136,290 shares in the company, valued at approximately $19,374,986.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Deirdre O’brien sold 176,299 shares of Apple stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $142.16, for a total value of $25,062,665.84. Following the completion of the transaction, the senior vice president now owns 136,290 shares in the company, valued at approximately $19,374,986.40. The disclosure for this sale can be found here. Insiders have sold a total of 457,386 shares of company stock worth $70,627,433 in the last 90 days. Company insiders own 0.06% of the company’s stock.
Apple Stock Performance
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. Apple had a return on equity of 160.90% and a net margin of 25.31%. The firm had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. During the same quarter last year, the company earned $1.24 EPS. The company’s revenue was up 7.8% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 6.32 earnings per share for the current year.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s dividend payout ratio (DPR) is presently 15.06%.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on AAPL shares. Barclays decreased their price objective on Apple from $156.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, November 7th. Evercore ISI increased their price objective on Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, September 20th. Itau BBA Securities started coverage on Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective for the company. JPMorgan Chase & Co. set a $200.00 price objective on Apple in a report on Monday, November 7th. Finally, Itaú Unibanco began coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $176.26.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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